5 Tips to Prevent Card Fraud

Card fraud continues to increase year-over-year. In fact, card breaches are now the top source of fraud in the financial industry with 48% of consumers having experienced card fraud at some point. As card fraud increases, criminals continue to develop new methods for targeting cardholders. Here are 5 steps you can take to reduce your risk of card fraud.

Use a Chip Card

In addition to the traditional magnetic strip on cards, aChip Card also has an embedded microchip. The embedded microchip provides an additional layer of security. Every time you use it at a chip-enabled ATM or terminal, the embedded microchip creates a unique, one-time code specific to your card and that transaction. This unique transaction better protects you from financial criminals.

Sign Up for Mobile Alerts

Mobile channels offer the quickest way to deliver important and secure alerts to cardholders. You can choose to receive event alerts for things like deposits, low balance alerts, debits, or even specific transaction amounts – all straight to your cell phone via text message or email.

Set and control debit card usage to specific merchant types, locations, users, and transaction types

Beware Card Skimming Devices

Before using your card at a gas station or ATM, inspect the machine for card skimmers. Look and feel for anything out of place. Further, be sure to shield the keypad when entering your PIN, even if you don’t see anyone around. The safest ATMs are in well-lit areas near bank branches.

Know Who to Contact

In the event that you lose your card or believe your information may have been compromised, it’s important to contact the right person as soon as possible. The quicker you get ahead of the issue, the lesser the risk.